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There’s been a resurgence in AI names recently. There’s also been a split between the haves and the have-nots. Look, I dare not call Apple (AAPL - Free Report) a have-not, but in the grand scheme of the AI moves we’ve seen, they are being left out of the party. The latest pre-order data for iPhone 16 is coming up somewhat lower than last year too. That’s leading to some lagging when it comes to share price.
AAPL has come down from over $230 at the end of August to the $216 level on Monday. It’s looking overhead to its 50-dayh moving average and is under pressure. RSI has come down sharply, now at 40 and dropping as the selling continues. The now infamous August 5th bottom is at $196. The stock should tick up to fill the gap and retest the 50-day before it gets uglier. If it doesn’t, then the 200-day and a retest of the lows could happen in short order.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Apple’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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Low Demand for iPhone 16 Sinking Apple Stock?
There’s been a resurgence in AI names recently. There’s also been a split between the haves and the have-nots. Look, I dare not call Apple (AAPL - Free Report) a have-not, but in the grand scheme of the AI moves we’ve seen, they are being left out of the party. The latest pre-order data for iPhone 16 is coming up somewhat lower than last year too. That’s leading to some lagging when it comes to share price.
AAPL has come down from over $230 at the end of August to the $216 level on Monday. It’s looking overhead to its 50-dayh moving average and is under pressure. RSI has come down sharply, now at 40 and dropping as the selling continues. The now infamous August 5th bottom is at $196. The stock should tick up to fill the gap and retest the 50-day before it gets uglier. If it doesn’t, then the 200-day and a retest of the lows could happen in short order.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Apple’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.